This story is from October 7, 2015

Aadhaar turning a trump card for online fraudsters

Aadhaar turning a trump card for online fraudsters
HYDERABAD: Fraudsters are turning Prime Minister Narendra Modi’s ‘Digital India’ campaign on its head to siphon off money from bank accounts of the general public.
With the Union government advocating linking of Aadhaar with various services, conmen are using this key identification document to dupe people. Every day, on an average, 20 people are falling prey to the new-age fraud in the city.
READ ALSO: PM wants all of India under Aadhaar by December
Posing as bankers, fake tele-callers call up customers saying, “Hello, sir/madam, the bank has decided to link your Aadhaar number with debit card for better customer service.”
To gain confidence of the victim, the fraudsters even give out the common 12-digit code on the debit card, which would be unique to each bank, and then ask them to reveal the remaining four digits, unique to each customer. Along with the last four digits, they, on the sly, extract the CVV (card verification value) number.
“These fraudsters then — by using various payment modes like PayTM, Billdesk and other platforms — place orders which immediately generate a one-time password (OTP) on the customer’s mobile. As the customer is in the dark about the actual fraud and presumes that the OTP is for linking Aadhaar with debit/credit card, he/she shares the OTP with the fake tele-callers,” assistant commissioner of police (CCS) B Anuradha told TOI.
As the OTP has short validity (between 5 and 15 minutes), the culprits make as many purchases as possible using various gateways. On the other hand, the customers get confused on seeing a series of alerts of purchase of mobile recharge coupons and products online.
READ ALSO: Aadhaar now most widely held ID with 92cr holders
In another modus operandi, the caller asks for an alternative mobile number and sends an OTP to the customer to gain his/her confidence. After the customer confirms the OTP on the phone, the fraudsters proceed and collect confidential details, the police officer said.
During investigation, police found that the fraudsters were operating from Jharkhand, Uttar Pradesh and Delhi. Incidentally, till date, none of them has been arrested. “It appears that some of the conmen are familiar with how tele-callers operate and work. We suspect that they could be either former or serving call centre employees. Using the confidential details of customers, money is siphoned off from the accounts of the victims,” Cyberabad police’s Cyber Wing inspector Md Riyaz said.
READ ALSO: Aadhaar card update is just a click away
Though many victims approach police immediately, poor response from many payment gateways has been hampering investigation, helping the culprits get away with their crime.
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2708 days ago
So now, people giving out their card CVV number and OTPs over the phone to unknown persons is also Modi's fault.
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IIM Calcutta’s CFO Programme: Key financial trends Indian CFOs should know

IIM Calcutta’s CFO Programme: Key financial trends Indian CFOs should know
The role of the Chief Financial Officer (CFO) in India has evolved in recent years, with the increasing adoption of digital technologies and the need to navigate complex regulatory environments. As a result, CFOs need to stay informed about the latest trends in finance to ensure that their organisations remain competitive and agile.
The IIM Calcutta’s Chief Financial Officer programme is designed to help aspiring CFOs and financial leaders to strike that balance in the C-Suite with expertise beyond the finance function.
The top trends in the market are:
1. Digital transformation
Digital transformation has been making a real buzz in the business world for some time now, and it is no different in India too. With the increasing availability of digital technologies, companies are looking to leverage them to drive efficiencies, reduce costs, and improve customer experiences. CFOs need to be aware of the latest trends in digital transformation, including cloud computing, automation, and artificial intelligence (AI) and identify how these technologies can be leveraged to achieve their business objectives.
The Chief Financial Officer programme has an industry-aligned curriculum with new-age topics like design thinking and digital transformation. In addition to CFO essentials, it also helps CFOs stay updated with such important trends.
2. Cash flow management
Cash flow management has always been a critical job function of the CFO. However, since the onset of the COVID-19 pandemic, cash flow management has become even more critical. Many companies in India have been affected by the economic slowdown, and CFOs need to manage cash flows effectively to ensure their organisations remain financially viable.
3. Regulatory compliance
India has a complex regulatory environment, and therefore CFOs need to stay informed about the latest regulations in order to ensure their organisations comply with them. This includes regulations around taxation, accounting, and reporting. CFOs need to work closely with their legal and compliance teams to ensure that their organisations are fully aligned with all applicable regulations.
The CFO Programme helps finance professionals understand the financial ecosystem and the linkage between the real sector and the financial sector better in order to lead teams towards growth and tackle globalisation issues by building alliances.
4. Data Analytics
Data analytics is another area that CFOs need to be aware of. With the increasing availability of data, CFOs need to leverage data analytics tools to gain insights into their organisation's performance, identify trends, and make informed decisions. CFOs need to work closely with their data analytics teams to ensure that the right data is being collected and analysed to make sensible business decisions.
Financial analytics, Text-based analytics, and Investment decisions are a few of the key modules that IIM Calcutta’s Chief Financial Officer programme covers in order to help CFOs drive financial decisions with value-creating strategies.
5. Sustainability
Sustainability has become an important consideration for many organisations in India. CFOs need to be aware of the latest trends in sustainability and identify how their organisations can become more sustainable. This includes initiatives around renewable energy, waste reduction, and responsible sourcing. CFOs need to work closely with their sustainability teams to ensure that their organisations are doing their part to protect the environment and promote sustainability.
In conclusion, CFOs in India need to be aware of the latest trends in finance to ensure that their organisations remain competitive and agile. This includes trends around digital transformation, cash flow management, regulatory compliance, data analytics, and sustainability. By staying informed about these trends, CFOs can make informed decisions and drive their organisations forward.
The Chief Financial Officer programme by IIM Calcutta aims to help CFOs gain a 360-degree view of financial leadership in the 21st century. It offers live online lectures by IIM Calcutta faculty, 7 days of campus immersion across 2 visits, 20+ real-world case studies and a certificate from IIM Calcutta which has the 'Triple crown’ of accreditations from - EQUIS, AACSB and AMBA. This is the highest in PG business education. The programme aims to cover multiple topics like Portfolio Management - Real and Financial Assets, Corporate Governance, Data-driven Decision-making, Value Creation and Corporate Strategy so that CFOs can lead teams towards growth.
About the IIM Calcutta
IIM Calcutta has been regularly ranked in all-important ranking organisations in India and overseas. IIM Calcutta's flagship programme, the 2-year MBA, was ranked 17th in the world, 1st in India and 2nd in Asia in FT MIM 2019 ranking. The vision of the Institute is to emerge as an International Centre of Excellence in all facets of management education, rooted in Indian ethos and societal values. Over the past four decades, IIM Calcutta has blossomed into one of Asia's finest business schools. Its strong ties to the business community make it an effective mechanism for the promotion of professional management practices in Indian organisations. Today, IIM Calcutta attracts the best talent in India - a melting pot of academia, industry and research. The best and brightest young men and women pursue its academic programmes.
About Emeritus
IIM Calcutta Executive Education is collaborating with an online education provider, Emeritus, to offer a portfolio 0of high-impact online programmes. Working with Emeritus gives IIM Calcutta Executive Education the advantage of broadening its access beyond their on-campus offerings in a collaborative and engaging format that stays true to the quality of IIM Calcutta Executive Education. Emeritus’ approach to learning is built on a cohort-based design to maximise peer-to-peer sharing and includes video lectures with world-class faculty and hands-on project-based learning. More than 300,000 students from over 200 countries have benefitted professionally from Emeritus’ programmes.
Disclaimer: This article has been produced on behalf of Erulearning by Times Internet’s Spotlight team.
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This story is from October 6, 2015

Angela Merkel visit "productive": PM Modi

Angela Merkel visit "productive": PM Modi
NEW DELHI: Bidding goodbye to Chancellor Angela Merkel, Prime Minister Narendra Modi today said her visit has been "productive" and taken India-Germany ties to "newer heights."
"As she leaves India, gratitude to Chancellor Merkel. This has been a productive visit which has taken India-Germany ties to newer heights," Modi tweeted after the German leader concluded her two-day trip.
During the visit, the two countries signed 18 MoUs after talks between Modi and Merkel yesterday, with Germany announcing an assistance of over one billion Euros for India's solar projects.
The two leaders also agreed to enhance ties in key areas of defence, security, intelligence, railways, trade and investment, clean energy, besides deciding to work closely to combat the threat of terrorism.
Modi had described Germany as a "natural partner" in achieving vision of India's economic transformation and said the partnership will grow in areas like "defence manufacturing, trade in advanced technology, intelligence, and countering terrorism and radicalism.
The two leaders today visited the NASSCOM centre in Bengaluru, just before Merkel concluded the visit.
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This story is from October 6, 2015

Indrani denies suicide bid, says similar health incident happened when she was 13

Indrani denies suicide bid, says similar health incident happened when she was 13
MUMBAI: Indrani Mukerjea has told the jail authorities that she never attempted suicide and that she had not overdosed on medicines. She made the assertion in her statement to inspector general (prisons) Bipin Kumar Singh, who visited her at the Byculla jail on Tuesday after her discharge from JJ hospital. Indrani, accused of murdering her daughter Sheena Bora in 2012, was rushed to JJ Hospital last Friday after she got unconscious.
Indrani told Singh she felt giddy while she was reading the Bhagavad Gita on Friday and does not remember anything after that. Ruling out a drug overdose, she added that a similar health incident had occurred when she was 13 years old.
READ ALSO: Indrani Mukerjea discharged from hospital, back in jail
Indrani told Singh she had never taken medicines on her own during her stay in jail. She said she was examined by various doctors, and she had taken medicines as per their instructions, and under the supervision of jail staff, so there was no question of overdose. “I never attempted suicide. It never came to my mind,” she told Singh.
After recording Indrani’s statement, Singh briefed additional chief secretary (home) K P Bakshi and he will submit a detailed report on Wednesday.
In view of Indrani denying any overdose attempt and forensic tests not showing evidence of it, the home department has ruled out any lapse or dereliction of duty by the jail administration.
But the team of JJ hospital doctors, led by Dr Shyamsunder Tampi, that treated Indrani for five days, ascertained that her symptoms were that of “classical drug overdose”. Indrani has not been put on anti-depressants though she will be followed up by doctors from JJ.
READ ALSO: Was Indrani Mukerjea poisoned inside jail? Probe focusing on possible foul play
The special court reserved its order on the Central Bureau of Investigation’s request to question the three arrested accused separately after a defence advocate opposed the plea. Indrani’s lawyer, Gunjan Mangla, did not object to it, but Khanna’s lawyer, Shreyansh Mithare, said the CBI should interrogate him only if they had new questions.
It will be difficult for the CBI to convince the court to remand the arrested in their custody for interrogation. The agency has decided to obtain court permission to question them in jail.
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Top Comment
2708 days ago
from 13 she is a drug addict..??
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